Funded a merchant about a year ago. Hadn't heard from him until few weeks ago. Calls me out of the blue and tells me that he stacked a couple more advances and couldn't make his debt obligations. Then he tells me (with some pride) that he worked with one of these companies to cut his debt. When I say that he said it with pride, it was like "isn't this an awesome deal I got?".

Anyway, he then says to me, "I'm ready to take on another advance."

It became apparent to me that whoever sold him on this debt restructuring bull**** must have told him he'd get another advance. I told him no one will ever touch him again and he seemed shocked. He was like "but I really need this." These people are coached-up and given poison pill advice.